Vaxcyte (NASDAQ:PCVX) Rating Lowered to Sell at Zacks Investment Research


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Vaxcyte (NASDAQ:PCVX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Vaxcyte Inc.is a biopharmaceutical company develops vaccines for infectious diseases. It offers conjugate, pneumococcal conjugate and complex antigen-based vaccines. Vaxcyte Inc.is based in Foster City, California. “

Separately, BidaskClub cut Vaxcyte from a “hold” rating to a “sell” rating in a report on Saturday, October 31st. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Vaxcyte has a consensus rating of “Hold” and a consensus price target of $48.00.

Shares of PCVX opened at $25.80 on Tuesday. The stock has a 50-day moving average of $29.67 and a two-hundred day moving average of $37.59. Vaxcyte has a one year low of $17.80 and a one year high of $58.47.

Vaxcyte (NASDAQ:PCVX) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.03. As a group, equities research analysts expect that Vaxcyte will post -7.38 earnings per share for the current year.

In related news, CEO Grant Pickering sold 15,000 shares of Vaxcyte stock in a transaction dated Monday, December 21st. The stock was sold at an average price of $28.88, for a total value of $433,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Holdings (Sbs) Advis Tpg sold 81,979 shares of Vaxcyte stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $32.50, for a total value of $2,664,317.50. The disclosure for this sale can be found here. In the last three months, insiders sold 276,287 shares of company stock valued at $8,007,192.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Vaxcyte by 2,859.0% in the 3rd quarter. Morgan Stanley now owns 2,959 shares of the company’s stock valued at $146,000 after purchasing an additional 2,859 shares in the last quarter. Strs Ohio purchased a new position in shares of Vaxcyte in the 3rd quarter valued at about $227,000. Hamilton Lane Advisors LLC purchased a new position in shares of Vaxcyte in the 4th quarter valued at about $242,000. Victory Capital Management Inc. purchased a new position in shares of Vaxcyte in the 3rd quarter valued at about $252,000. Finally, JPMorgan Chase & Co. purchased a new stake in Vaxcyte during the 3rd quarter worth approximately $350,000. Hedge funds and other institutional investors own 70.56% of the company’s stock.

About Vaxcyte

Vaxcyte, Inc, a preclinical-stage biotechnology vaccine company, develops vaccines to prevent or treat infectious diseases worldwide. Its lead vaccine candidate is VAX-24, a 24-valent investigational pneumococcal conjugate vaccine. The company also develops VAX-XP to protect against emerging strains causing significant invasive pneumococcal disease and antibiotic resistance; VAX-A1, a conjugate vaccine candidate for protection against subtypes of Group A Strep; and VAX-PG, a novel protein vaccine candidate targeting porphyromonas gingivalis.

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